Modo Energy Raises $50 Million and Sets Out AI Ambitions

British battery intelligence firm eyes AI-powered leap in global energy storage valuation

In a bold move to redefine how battery energy storage assets are assessed and financed, UK-based software company Modo Energy has closed a $50 million Series B funding round. According to PV Magazine, the investment was led by Molten Ventures, with participation from ETF Partners, MMC Ventures, and Fred Olsen Limited. This milestone follows the company’s $23.8 million Series A in 2023 and signals a decisive shift toward integrating artificial intelligence into the core of its valuation and benchmarking platform.

From market leader to global disruptor

Founded in 2019 by Quentin Scrimshire and Tim Overton, Modo Energy has rapidly become the go-to data and analytics provider for the battery energy storage sector. Its platform, which delivers price forecasts, revenue benchmarking, and real-time market intelligence, is already trusted by operators managing around 90% of Britain’s grid-scale battery capacity. The company’s reach spans Europe, North America, and Australia, positioning it as a key player in high-renewable penetration markets.

With fresh capital, Modo plans to intensify its push into the US market, starting with Texas and the ERCOT grid, before expanding further across North America and Europe. This expansion will be underpinned by AI-driven tools designed to make asset valuation more precise, transparent, and responsive to real-world conditions.

AI ambitions: A new operating system for electrification finance

Scrimshire describes the company’s mission as building “the benchmarking and valuation operating system for global electrification.” By owning its full modelling stack, Modo can integrate AI in ways that traditional consultancies cannot. The aim is to shift from static, backward-looking analyses to dynamic intelligence systems capable of adapting in real time to market fluctuations, policy changes, and technical performance data.

Molten Ventures’ head of climate, George Chalmers, told PV Magazine that AI has the potential to “transform how the world values and finances electrification.” For battery asset owners and financiers, this means faster, more accurate decisions, reduced uncertainty, and potentially higher returns on investment.

Why this matters: The economics of battery storage are changing

Battery energy storage systems (BESS) play a critical role in enabling renewable integration by balancing supply and demand, providing grid stability, and unlocking energy arbitrage opportunities. As solar and wind capacity grows globally, the complexity of valuing these assets increases. Operators need to forecast revenue streams across multiple markets, factor in degradation rates, and navigate evolving policy landscapes—all in near-real time.

Modo’s platform directly addresses these challenges, offering data-driven insights that support both operational and financial decision-making. In competitive markets like the UK, ERCOT, and Australia, this intelligence can mean the difference between underperforming assets and optimally monetized portfolios.

Competitive positioning and differentiation

While firms such as LCP Delta and Local Power offer consulting and market modelling services, Modo’s software-as-a-service approach delivers integrated, continuously updated analytics tailored specifically to battery storage. By combining proprietary data, AI valuation models, and market benchmarking, Modo is carving out a niche as a “Bloomberg of energy” for storage assets—a term used by MMC Ventures in its investment rationale.

This strategy not only differentiates Modo from traditional consultancies but also positions it to scale more effectively across geographies, leveraging network effects as more operators feed data into its platform.

Outlook: Scaling intelligence for the energy transition

The Series B funding sets the stage for Modo to accelerate deployment of its AI-powered valuation workflows, expand into new markets, and deepen its integration with financing ecosystems. If successful, its platform could become a standard tool for banks, asset managers, and independent power producers navigating the fast-paced energy transition.

For battery enthusiasts and industry professionals alike, Modo’s trajectory underscores a wider shift: data and AI are no longer optional in energy storage—they are becoming the infrastructure upon which the sector’s financial and operational decisions rest.